Indices declined in midday trading on the brewing trade-and-tariff war between China and the U.S.

The S&P 500 was down 1.1% to 2,634.28. The Dow Jones Industrial Average 1.4% to 24,167.56. The Nasdaq 1% to 7,002.93.

The yield on a 10-year Treasury bond plunged 1.4% to 2.79%.

The price of gold rose 0.5% to $1,335.

FINANCE

Banc of California Inc. (NYSE: BANC) in Santa Ana was down 5% to $18.38 and a $930 million market cap on high volume. A “shareholder rights” law firm said it was investigating officers and directors of the bank holding company.

HEALTHCARE

Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) in Irvine was down 3% to $14.60 and a $1.5 billion market cap. It makes drugs to treat blood diseases and cancer.